⏱️ Around MENA in 60 seconds

1. 🇦🇪 UAE/🇱🇧 Lebanon: UAE's OSN+ and Lebanon-originated Anghami Inc. have merged in a $50 million deal. Anghami, listed on NASDAQ, and OSN+, owned by a Kuwaiti conglomerate, will operate their content independently. The merger aims to create a major entertainment streaming service in the Middle East, competing with international giants like Spotify and Netflix.

2. 🇪🇬 Egypt: WayUp Sports has raised an undisclosed seed round led by Beltone Venture Capital and Index Sports Fund. Launched in 2021, the company will use the funds for brand launch, regional expansion, and enhancing its digital platforms.

3.  🇱🇧 Lebanon: Dooda Solutions, a Lebanon-based agritech, has won a $100,000 grant in PepsiCo's Greenhouse Accelerator: MENA Sustainability Edition. Specialising in vermicompost and organic fertilizers, the company was chosen from over 180 applicants for its innovative approach to sustainable agriculture.

4. 🇲🇦 Morocco: Chari, a B2B e-commerce and fintech startup, has received an undisclosed investment from UM6P Ventures, Mohammed VI Polytechnic University's fund. The investment supports Chari's mission to enhance financial inclusion and digital transformation in Africa.

5. 🇹🇳 Tunisia: Winshot, a Franco-Tunisian startup has received a six-figure investment led by 216 Capital. Specialising in retail operational efficiency, Winshot aims to enhance team involvement and real-time performance monitoring at points of sale, focusing on EMEA.

6. 🇸🇦 Saudi Arabia: The sixth batch of the MENA Seed Accelerator Program, a joint venture between 500 Global and Sanabil, has been announced in Riyadh. Focused on a variety of sectors including Fintech and Foodtech, the program selected nine companies from over 700 applicants. See the companies here →

7. 🇦🇪 UAE: Oraseya Capital has has announced the launch of the SANDBOX accelerator program under its new $136m VC fund. Offering $150,000 via SAFE Note, this 5-month program will support pre-seed to seed stage tech startups, focusing on comprehensive growth and development with a UAE nexus.

8. 🇧🇭 Bahrain: Hambro Perks and Al Waha Fund of Funds have launched HP Spring Studios, the first fintech-focused venture studio in the MENA region, in Bahrain. The studio aims to nurture the fintech ecosystem and foster entrepreneurial talent, strengthening the fintech landscapes of both London and Bahrain.

👋 Say hello to Modus Capital’s 8 new shiny start-ups! The start-ups were built and launched as part of its Venture Builders programme.

Altogether, they’ve invested $2.8M across these emerging companies.

Modus runs a network of venture builders across the MENA region, funded by a $50 million Venture Builder Fund, with programs in Abu Dhabi, Riyadh, and Cairo.

• Their nine-month venture-building program supports new and established founders with finance, mentorship, networking, and other resources.

📝Take note, these startups will be making headlines before you know it

💄 JamaliBox: A monthly beauty box subscription service that delivers curated beauty, skincare, and hair care products across the UAE.

• Founder-check: Haydar Zayat started JamaliBox in 2022.

🩺 MDBX Health: A Healthtech merging chronic condition care and medication management with a digital pharmacy linked to robotics.

• Founder-check: Sarah Miller started MDBX Health in 2022.

💰 Monet: A revenue-based financing platform that allows companies to transform their revenue streams into upfront capital, instantly and without dilution.

🌱 Oscar SDG: A tailored, automated sustainable procurement tool for the MENA region, considering local culture, business practices, and sensitivities.

• Founder-check: Abed Shawar started Oscar in 2022.

👨🏼‍🏫 sevaschools: An app that is designed to imitate and simplify the creation of the Knowledge and Human Development Authority (KHDA) process in a user-friendly, digital setting.

• Founder-check: Ahmad Abusalim started sevaschools in 2022.

🤲🏻 Sinbad HQ: A Know Your Customer (KYC) solution for Umrah and emerging markets, giving suppliers the ability to view key data about their pilgrims through its AI-powered verifications.

💻 Stornest: A digital tool that helps individuals plan and store their legacy information and documents to which designated beneficiaries get access in case of an untimely passing.

• Founder-check: Stefan Handjiski started Stornest in 2018.

🦷 Your Social Smile: A dental digital marketing tool that modernises dental experiences and helps improve communication and set procedural expectations between doctors and patients.

• Founder-check: Shuaib Khaderi, DMD started Your Social Smile in 2020.

🚀 Here’s Raha! A Kuwait-based start-up specialising in automating e-commerce logistics through robotics.

And they just raised $7 million in its pre-series A funding round, bringing the company's total funds to $14 million. 

Not too shabby for a year’s work right?!

• Founded in 2022 by Saleh AlTunaib, Raha has swiftly expanded from a small core team to an impressive roster of over 166 employees across multiple verticals.

💰 Investor low-down: The latest funding round was led by Soor Capital and eWTP Arabia Capital. 

• This follows their initial seed round of $6.7 million, supported by KSA’s Aujan Enterprises, Kuwait’s Nox Management, and Cedar Mundi Ventures based in London.

🌐 The logistics labyrinth

MENA’s e-commerce market is booming, yet the logistics sector still reliant on more traditional methods is struggling to keep up.

The result? Inefficiencies and delivery delays.

With the Middle East's e-commerce market expected to reach $50 billion by 2025, the need for advanced logistics solutions to improve the experience from first to last mile is vital.

🚚 Grocery delivery

ShopRaha, the company's first concept launched in Kuwait, is a fully automated e-grocery platform that provides a seamless experience with a precisely controlled full cycle of logistics - from procurement to last-mile delivery. 

It's become a leading player in Kuwait's grocery e-commerce market, tripling its revenue since starting, and was recently recognised as one of Kuwait's top startups at the Forbes' Top Entrepreneurs 2023 Forum.

🪹 Spreading its wings 

Following this successful proof of concept, Raha aims to extend its reach beyond e-commerce ventures and enhance its industry footprint through its two primary verticals.

1. 🤖 Btr.tech: an intelligence-based logistics consultancy specialising in systems integration, robotics, and automation with smart software

   • It’s been making inroads in KSA and the UAE of late

2. ⚙️ Smooth Logistics: started in 2023, it’s a 3PL service provider that helps companies move to digital platforms smoothly and sustainably and is already serving regional clients.

👋 Message from the team

Thanks for reading! Have a terrific weekend and we’ll see you all again on Tuesday.

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